KATHMANDU: After a long period of conflicts over the issues of unification, the Left parties in Nepal are set to merge as one on Thursday.

The Communist Party of Nepal- Unified Marxist Leninist (CPN-UML) and the Maoist Center chief leaders on Wednesday evening reached to a point of agreeing over the unification.

The duo leaders K.P. Sharma Oli and Pushpa Kamal Dahal have agreed to register the to-be-united party named as "Nepal Communist Party" to be registered formally in the Election Commission bearing the election emblem of the Sun.

The Central Committee member and the Maoist Secretariat meeting have rectified the merger process on Wednesday itself whereas the CPN-UML has called for the meeting on Thursday.

As per the deal struck by both leaders, the power-sharing inside the two parties will be 45:55 percent ratio. The Maoist Center, a former guerrilla group will have 45 percent share in the central committee of the to-be-formed new party.

As per the release from the CPN-UML, there will be a total of 441 central committee members in the new to-be-formed party in which the share of CPN-UML, the largest party in the parliament will have 241 members and the remaining 200 from the Maoist Center.

The unification process announcement was made on September last year and it coincides with the Madan Ashrit Memorial Day.